Brokers Set Expectations for Lowe’s Companies, Inc.’s Q2 2024 Earnings (NYSE:LOW)

Lowe’s Companies, Inc. (NYSE:LOW – Get Rating) – Investment analysts at DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for shares of Lowe’s Companies in a report issued on Wednesday, May 24th. DA Davidson analyst M. Baker expects that the home improvement retailer will post earnings of $4.58 per share for the quarter. The consensus estimate for Lowe’s Companies’ current full-year earnings is $13.48 per share. DA Davidson also issued estimates for Lowe’s Companies’ FY2024 earnings at $13.49 EPS and FY2025 earnings at $14.99 EPS.

A number of other equities research analysts have also issued reports on the company. StockNews.com assumed coverage on Lowe’s Companies in a research report on Thursday, May 18th. They set a “buy” rating on the stock. TD Cowen lowered their target price on Lowe’s Companies from $220.00 to $210.00 and set a “market perform” rating on the stock in a research note on Thursday, March 2nd. Barclays decreased their price target on Lowe’s Companies from $215.00 to $212.00 in a research note on Wednesday. Oppenheimer decreased their target price on Lowe’s Companies from $300.00 to $275.00 in a research note on Tuesday, February 28th. Finally, Loop Capital upped their price target on Lowe’s Companies from $200.00 to $205.00 and gave the company a “hold” rating in a report on Tuesday, March 21st. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $222.23.

Lowe’s Companies Stock Down 1.3 %

Shares of Lowe’s Companies stock opened at $201.04 on Thursday. The firm has a market cap of $119.89 billion, a price-to-earnings ratio of 19.58, a price-to-earnings-growth ratio of 1.23 and a beta of 1.09. The business has a fifty day simple moving average of $201.92 and a 200-day simple moving average of $204.19. Lowe’s Companies has a fifty-two week low of $170.12 and a fifty-two week high of $223.31.

Lowe’s Companies (NYSE:LOW – Get Rating) last announced its quarterly earnings results on Tuesday, May 23rd. The home improvement retailer reported $3.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.48 by $0.19. Lowe’s Companies had a negative return on equity of 68.42% and a net margin of 6.65%. The company had revenue of $22.35 billion during the quarter, compared to analyst estimates of $21.68 billion. During the same quarter in the previous year, the firm posted $3.51 EPS. The firm’s quarterly revenue was down 5.5% on a year-over-year basis.

Institutional Trading of Lowe’s Companies

Several institutional investors have recently modified their holdings of the business. Standard Family Office LLC acquired a new stake in shares of Lowe’s Companies in the 3rd quarter valued at about $26,000. Legend Financial Advisors Inc. bought a new position in Lowe’s Companies in the 3rd quarter valued at about $26,000. Ritter Daniher Financial Advisory LLC DE lifted its position in Lowe’s Companies by 357.1% in the 1st quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the home improvement retailer’s stock valued at $26,000 after acquiring an additional 100 shares in the last quarter. Blume Capital Management Inc. lifted its position in Lowe’s Companies by 70.6% in the 3rd quarter. Blume Capital Management Inc. now owns 145 shares of the home improvement retailer’s stock valued at $27,000 after acquiring an additional 60 shares in the last quarter. Finally, McElhenny Sheffield Capital Management LLC bought a new position in Lowe’s Companies in the 4th quarter valued at about $28,000. Institutional investors own 72.62% of the company’s stock.

Insider Buying and Selling at Lowe’s Companies

In other news, EVP Donald Frieson sold 9,411 shares of the company’s stock in a transaction on Wednesday, March 15th. The shares were sold at an average price of $197.00, for a total transaction of $1,853,967.00. Following the completion of the transaction, the executive vice president now directly owns 17,888 shares in the company, valued at $3,523,936. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.26% of the company’s stock.

Lowe’s Companies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 10th. Investors of record on Wednesday, April 26th were paid a $1.05 dividend. This represents a $4.20 annualized dividend and a dividend yield of 2.09%. The ex-dividend date was Tuesday, April 25th. Lowe’s Companies’s dividend payout ratio (DPR) is currently 40.90%.

Lowe’s Companies Company Profile

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Lowe’s Cos., Inc engages in the retail sale of home improvement products. The firm offers products for maintenance, repair, remodeling, home decorating and property maintenance. It also provides home improvement products in the following categories: appliances, bathroom, building supply, electrical, flooring, hardware, paint, kitchen, plumbing, lighting & fans, outdoor living, windows and doors.